Visiting Land Opportunities in Pennsylvania – What Would You Look For First?

Question

Stuart Udis · Answer

Environmental, zoning which will include use, parcel size, setbacks, lot coverage and other dimensional standards, storm water, utilities, title/easements. All are critical. From there, if the zoning is not compatible with development or there's a higher and better use worth pursuing determining whether there's hardship to support zoning relief.

You want to complete your diligence in the most cost effective and methodical sequence possible absent the need to perform the diligence as quickly as possible. What may be deemed the highest priority in one location will differ from others as development obstacles differ.

Kevin Sobilo · Answer

@Luis Gabriel Lopez, I am in the Wilkes-Barre/Scranton area!

One thing you might be surprised by is how much they work with the terrain/slope here. It is not uncommon to fill lots or even in some cases to do BLASTING to remove some rock and make a build-able area on property here.

If you are looking at places to build vacation properties, another thing to keep an eye out for is whether there are any lake access rights. There are quite a few small lakes where some lots off the lake have deeds rights to access the lake.

Luis Gabriel Lopez · Answer

Great insights Stuart.

I invest primarily in land acquired through tax sales and county repositories, and I’ve learned that starting with zoning, access, and environmental constraints helps eliminate most non-viable parcels very quickly.

In many cases the lowest priced lots fail because of wetlands, lack of legal access, or restrictive development standards.

A methodical diligence sequence like the one you outlined is essential when evaluating large numbers of parcels.

Appreciate the guidance.

Luis Gabriel Lopez · Answer

One additional thing I noticed while visiting parcels in this area is how much the surrounding development can influence future value.

Some nearby communities already have cabins and vacation homes being built, which makes me think long-term demand could continue increasing in these areas.

Curious if others here have noticed similar patterns when evaluating land deals.

Bill B. · Answer

I would bet your best deals come from someone who doesn’t need/want to own it. They inherited, they held it long time with plans for the future and life happened, etc etc. You might save 10% or even 20% on a property from the right seller. But land can change hands at a 50-80%+ discount from the right sellers.

Beyond that it’s the obvious you mentioned. Road access, utilities, zoning. Maybe you can buy a “big” parcel at a better price per acre and sell off enough to own your land for free. I have a friend in SD that bought an old golf course. He sold off the land as parcels and turned the clubhouse in to his free home.

Luis Gabriel Lopez · Answer

That’s a great point Bill.

I’ve noticed something similar. Some of the best opportunities seem to come from owners who held the land for years without really having a clear plan for it.

The idea of buying a larger parcel and potentially subdividing it is definitely interesting as well, especially in areas where development demand is slowly increasing.

Appreciate the perspective.

Luis Gabriel Lopez · Answer

Thanks Kevin, that’s really helpful insight.

I actually noticed the terrain differences when visiting the area recently. The slope and rock conditions definitely seem like something investors need to account for when thinking about building.

The lake access rights point is also interesting. I’ve seen a few lots where the deed mentions access but it’s not always very clear how that works in practice.

Appreciate you sharing that local perspective.

Thanks Kevin, that’s really helpful insight.

I actually noticed the terrain differences when visiting the area recently. The slope and rock conditions definitely seem like something investors need to account for when thinking about building.

The lake access rights point is also interesting. I’ve seen a few lots where the deed mentions access but it’s not always very clear how that works in practice.

Appreciate you sharing that local perspective.

Visiting Land Opportunities in Pennsylvania – What Would You Look For First?

Visiting Land Opportunities in Pennsylvania – What Would You Look For First?

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